MSFT Options History — July 2014

In July 2014, MSFT traded between $41.67 and $44.87. ATM implied volatility averaged 20.2%, placing in the 35.6% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded above realized volatility by 5.9% (HV 20d: 14.3%). Max pain ranged from $42.00 to $45.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.60.

Notable Days

  • 2014-07-16: Highest Volume — 605,673 contracts
  • 2014-07-21: Largest IV spike — 26.9% change
  • 2014-07-21: Highest IV Rank — 73.1%
  • 2014-07-31: Largest Expected Move — 6.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.21$41.67$44.87$41.87$43.16
Max Pain$42.50$42.00$45.00$45.00$42.00
ATM IV20.2%17.3%26.5%20.1%19.1%
Expected Move5.8%5.6%6.0%5.8%6.0%
HV 20d14.3%10.0%16.8%13.9%16.8%
HV 60d14.7%13.3%15.5%15.5%14.6%
IV Rank35.6%19.0%73.1%35.0%29.4%
IV Percentile39.3%13.5%88.9%40.1%32.5%
Term Structure-0.4%-2.8%1.4%-0.3%-0.5%
VWIV20.5%19.6%21.5%20.1%20.8%
Skew 25d1.1%-1.2%2.4%2.1%0.1%
Skew 10d2.3%-2.1%5.7%3.5%1.1%
Call IV 25d19.9%17.2%26.3%19.7%19.4%
Put IV 25d21.0%17.5%26.4%21.8%19.5%
Bid-Ask Spread %11.715.0172.266.5911.12
Gamma HHI0.180.130.260.160.13
Net GEX129.9M98.0M186.1M106.8M108.6M
Net DEX-3.58B-5.24B-2.78B-2.94B-2.78B
Net VEX-13.9M-14.8M-12.7M-14.4M-14.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.600.400.890.470.88
Total Volume220,497.36462,168605,67381,603192,270
Total OI2,740,317.1362,504,4053,089,3292,518,0292,957,655

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-07-01$41.87$45.0020.1%5.8%13.9%35.0%20.1%2.1%-0.3%106.8M-2.94B-14.4M0.476.59N/AN/A55,62425,9791,469,0051,049,024
2014-07-02$41.90$42.0019.8%5.8%13.9%33.2%20.9%2.4%-0.3%99.6M-2.97B-14.3M0.477.53N/AN/A42,18019,9881,476,4501,061,153
2014-07-03$41.80$42.0020.2%5.8%11.8%35.6%20.8%1.9%-0.3%117.4M-2.90B-14.2M0.827.04N/AN/A47,99639,1271,485,3451,062,032
2014-07-07$41.99$42.0020.3%5.8%11.6%36.7%20.6%1.9%-0.9%124.3M-3.08B-13.9M0.716.44N/AN/A59,02342,0281,471,3821,033,023
2014-07-08$41.78$42.0020.7%5.8%11.6%38.9%19.9%1.8%-0.6%119.7M-2.89B-14.1M0.896.84N/AN/A44,08039,0431,485,1531,056,536
2014-07-09$41.67$42.0020.7%5.8%11.6%39.0%21.5%2.0%-1.3%115.9M-2.82B-14.0M0.416.72N/AN/A60,48624,5551,501,0191,073,527
2014-07-10$41.69$42.0020.2%5.8%11.3%36.0%21.5%1.9%-0.9%123.6M-2.87B-14.1M0.587.60N/AN/A68,83940,2161,526,1521,078,168
2014-07-11$42.09$42.0019.6%5.7%11.3%32.5%20.6%1.5%-0.5%163.7M-3.30B-13.8M0.407.60N/AN/A145,11258,3201,539,1811,076,346
2014-07-14$42.14$42.0019.7%5.7%10.0%32.6%20.3%1.7%0.3%142.3M-3.31B-14.1M0.675.01N/AN/A78,43852,7001,547,6531,059,262
2014-07-15$42.45$42.0019.8%5.8%10.1%33.6%20.5%1.5%0.3%148.7M-3.51B-14.0M0.488.18N/AN/A110,78353,2631,549,8591,077,456
2014-07-16$44.08$42.0021.1%5.6%16.4%41.3%19.9%1.4%0.3%128.0M-4.73B-13.3M0.426.50N/AN/A426,368179,3051,588,5651,097,492
2014-07-17$44.53$42.0022.9%5.8%16.6%51.9%20.2%1.0%-0.3%140.0M-5.12B-13.7M0.667.73N/AN/A298,836196,1571,701,2121,171,594
2014-07-18$44.69$42.0020.9%5.7%16.4%39.8%20.8%1.4%1.4%142.0M-5.24B-12.7M0.637.58N/AN/A194,014121,7571,746,9681,232,542
2014-07-21$44.84$43.0026.5%5.8%16.4%73.1%20.0%0.1%-1.7%98.0M-4.11B-12.9M0.4220.09N/AN/A315,118132,3811,480,7101,026,978
2014-07-22$44.83$43.0025.3%5.7%16.4%66.1%19.6%0.3%-2.8%127.1M-4.29B-13.4M0.6372.26N/AN/A366,423230,6431,638,8131,095,527
2014-07-23$44.87$43.0018.7%5.6%16.0%27.2%20.0%-0.3%-0.3%186.1M-4.36B-13.3M0.4611.73N/AN/A317,595145,3001,816,6821,224,810
2014-07-24$44.40$43.0017.5%5.7%16.8%20.2%20.0%0.3%-0.5%132.1M-3.82B-13.3M0.5810.88N/AN/A80,40346,7471,834,6831,242,293
2014-07-25$44.50$43.0017.7%5.8%16.3%21.1%20.2%0.2%0.0%147.7M-3.88B-14.8M0.5110.59N/AN/A112,66657,0251,851,5421,237,787
2014-07-28$43.97$43.0017.7%5.8%16.8%21.2%20.8%-1.2%-0.3%137.1M-3.37B-14.8M0.779.46N/AN/A47,46636,5541,792,6441,068,074
2014-07-29$43.89$43.0017.3%5.8%15.9%19.0%20.2%0.5%-0.1%133.5M-3.33B-14.5M0.7410.18N/AN/A64,31547,4731,806,8601,079,606
2014-07-30$43.58$43.0017.6%5.8%16.2%20.4%21.0%1.7%-0.3%116.2M-3.10B-13.7M0.729.89N/AN/A78,25756,0891,825,2041,091,010
2014-07-31$43.16$42.0019.1%6.0%16.8%29.4%20.8%0.1%-0.5%108.6M-2.78B-14.6M0.8811.12N/AN/A102,24490,0261,852,8611,104,794